Hester India to acquire 50 percent stake in Thrishool Exim for Rs 16 crore
New Delhi: Hester India has recently announced that the company has entered into an agreement to acquire 50% stake in Thrishool Exim Limited, Tanzania, to increase its distribution footprint in Tanzania and in the African continent.
The proposed collaboration, along with the additional range of animal vaccines from Hester Africa, it will over-all synergise Hester's distribution thrust in Tanzania as well as in Africa. The consideration for the proposed acquisition is USD 2.25 million. The proposed transaction is subject to receipt of Tanzanian regulatory approvals.
The turnover of Thrishool in the last financial year, ending 31 December 2020, was Tanzanian Shillings 7.10 billion (approximately USD 3 million).
Thrishool is an animal health products distribution company operating in Tanzania since 2012. Thrishool's product range includes veterinary feed additives, feed raw materials, nutritional supplements, therapeutics and equipment sourced from recognized international producers.
Over the years, Thrishool has established itself as a respectable distribution company in the animal healthcare segment in Tanzania.
Hester is an Indian multinational animal healthcare company.
Read also: Hester Biosciences, OmniBRx, Gujarat Govt in talks with Bharat Biotech to ramp up Covaxin production
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